Reinsurance News
Results news
News on reinsurance and insurance company quarterly and annual results or reporting. Detailing news on the financial performance of insurance and reinsurance underwriting companies and brokers.
Reinsurance outlook to improve as investment volatility eases: Aon
20th April 2023
Reflecting on reinsurers’ performance over 2022, analysts at global professional services firm Aon note that investment losses “weighed heavily” on results, but they also assure that the sector outlook is set to improve as volatility eases. The broker took stock of the year in the latest edition of its Aon ... Read the full article
Assurant expects housing segment to record $50m in Q1 cat losses
20th April 2023
US specialty insurance group Assurant expects to record roughly $50 million pre-tax, or $39 million after-tax, of catastrophes losses in its global housing segment for first quarter 2023. Most of the losses from catastrophic events that needed to be reported were related to lender-placed products and resulted from severe weather and ... Read the full article
Travelers reports $975m net income in Q1 with net written premiums up 12%
19th April 2023
Primary insurance group The Travelers Companies, Inc. has reported net income of $975 million for the first quarter of 2023, which also included an elevated level of catastrophe losses of $535 million pre-tax and a one-time tax benefit of $211 million. The company’s net income went down 4% this Q1 2023 ... Read the full article
VIG posts higher FY22 premium volume, confirming preliminary results
19th April 2023
Vienna Insurance Group (VIG) reported total premium volume of €12.6 billion for FY22, up 14.1% from the year-ago figure of €11.0 billion, confirming the preliminary figures announced on March 15. The company noted that the amount includes the Aegon businesses in Hungary and Türkiye that were acquired and consolidated for the ... Read the full article
Aon’s ARA reports strong growth in P&C premiums in 2022 despite turbulent market
19th April 2023
The constituents of Aon’s Reinsurance Aggregate (ARA), who collectively underwrite more than 50% of the world’s life and non-life reinsurance premiums, reported strong growth in P&C premiums in 2022, driven by higher pricing and strong demand for risk transfer in a volatile operating environment. According to Aon Catastrophe Insight data, 2022 ... Read the full article
Cincinnati Financial to incur $235m Q1 storm losses
17th April 2023
Property and casualty insurer Cincinnati Financial Corporation has announced that its consolidated first-quarter results are expected to include pre-tax catastrophe losses of approximately $235 million. This will represent an impact on its Q1 combined ratio of 12.8 percentage points, based on estimated earned premiums. For reference, the company's 5-year historical average contribution ... Read the full article
Swiss Re improves solvency test ratio by 71 points
14th April 2023
Global reinsurer Swiss Re has reported that its Group Swiss Solvency Test (SST) ratio for 2023 stands at 294%, which is well above its 200-250% target range, and represents an increase of 71 percentage points over its 2022 figure. Swiss Re outlined its capital position in detail in its Financial Condition ... Read the full article
The Hartford forecasts Q1 P&C catastrophe losses of $185m
14th April 2023
The Hartford has announced its preliminary earnings estimates for Q1 2023, including net income available to common stockholders of $530 million, and P&C current accident year (CAY) catastrophe losses of $185 million. Of the total CAY CAT losses, $138 million are estimated in Commercial Lines, while $47 million are in Personal ... Read the full article
Reinsurance sector delivers ‘record-high’ return in Q1’23: ACORD
14th April 2023
The reinsurance sector delivered a "record-high" performance overall with +23.6% total return on equity in Q1, ACORD noted in its first Global Insurance Stock Index Update of 2023. ACORD, the global standards-setting body for the insurance industry, highlighted that the performance was likely driven by strong premium and exposure growth, improved ... Read the full article
Miller posts over £200m in 2022 revenues
13th April 2023
Specialist re/insurance broker Miller said it posted over £200 million in revenues in 2022, led by strong organic growth and the acquisition of two "high quality" businesses. Miller said it saw organic growth in the mid-teens delivered in 2022, with strong performance across all classes. Acquisitions of Henner Sports in France (now ... Read the full article
Fidelis reports increased GWP & improved combined ratio in 2022
11th April 2023
In its 2022 full year results, Bermuda-based Fidelis Insurance Holdings Limited has reported that gross written premiums (GWP) increased to $3 billion compared to 2.78 billion in 2021, while the firm's combined ratio improved to 92.1% from 92.9%. Of the GWP total in 2022, $1.61 billion was made up of speciality ... Read the full article
US commercial P&C rates increase in Q1 at plus 5%: MarketScout
6th April 2023
New data released by MarketScout, a managing general agent, Lloyd’s coverholder and wholesale broker, shows that composite rate increases for commercial property and casualty rates increased in modest fashion during the first quarter of 2023 at plus 5%. According to the broker, the only coverages of notable change were general liability ... Read the full article
Helios syndicate forecasts impacted by losses
4th April 2023
Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has announced the current mid-point forecasts for its portfolio of syndicate capacity for the 2020 and 2021 years of account, based on 4th quarter 2022 estimates. The 2020 result showed an improvement over the midpoint forecasts as at 30th September 2022, ... Read the full article
Athora Holdings posts 14% increase in profit in full-year results
31st March 2023
Athora Holding Ltd., a European savings and retirement services group, has reported its full-year results, announcing a €488 million IFRS profit before tax, which represents a 14% increase compared to 2021. At the same time, the firm also reported an Operating Capital Generation (OCG) of €442 million, representing a year-on-year increase ... Read the full article
Oxbridge Re reports $1.8mn net loss in full-year results
31st March 2023
Oxbridge Re Holdings, a provider of reinsurance solutions primarily to property & casualty insurers, has reported a $1.8 million net loss for the full-year, compared to a $8.6 million net income from 2021. The company stated that the decline was primarily due to a decrease in unrealized gains within its investment ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
